Blockchain Raises $30 Million in Financing

The world's leading online Bitcoin wallet system, Blockchain, announced late last night that they have received a massive $30 million in funding and financing from outside investors. The money has come in through Series A financing which was led by Lightspeed Venture Partners and Wicklow Capital group.

Blockchain is by far the biggest Bitcoin wallet in the world measured by amount of users, as they have more than 2.3 million users who transfers more than $26 billion worth of Bitcoins annually.

“The company has grown exponentially in every way over the last eighteen months. We are honoured to add investors and partners to the team with deep expertise in financial services and consumer technology.” Peter Smith, President of Blockchain said in a press release.

The financing from outside sources is the first of its kind and will be used to develop innovative features for the users of the popular Bitcoin wallet. The funds will also go towards an international expansion and to prepare the wallet service for another 20 million users in the future.

“Bitcoin is a long game and the wallet is the crucial strategic high ground in the Bitcoin ecosystem,” Jeremy Lew from Lightspeed Venture Partners said, adding: “We wanted to back the biggest player in the most important segment of the Bitcoin value chain, and that is Blockchain.”

“The potential for a global transformation in payments powered by Bitcoin is very exciting. Consumers are being offered much greater control and freedom with their money and more of them have chosen Blockchain’s safe and easy to use wallet to hold their Bitcoins than any other.” Richard Branson added.

Daniel Allermand - Igaming.org Reporter

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.